If one of your family members dies without a will, what happens to their estate? Can you control who receives which assets? What if the person is unmarrried or has dependent children? Read on to learn the answers to these questions and more.
Writing a will can be scary because it requires you to think about your own mortality. It can be just as frightening to think about what will happen if you die without a will. You might have heard that the state takes all your assets after you die without a will, but in fact, that rarely happens. If you die without a will you will not be able to choose who receives your assets.
California estate laws deal with probate, conservatorship, and guardianship. Probate refers to a court overseeing distribution of a decedent's estate. Conservatorship gives a person authority to manage affairs of an adult who cannot manage for themselves and Guardianship gives a person control over a minor.
Under California intestate succession laws, if you die without a will, your assets will go to your closest surviving relatives. Assets held in trust will be distributed to the designated beneficiaries upon death. Any asset held outside of a trust will go to the decedent's closest surviving relatives per California intestate succession laws. If your [...]